Income Tax authorities, which had previously asked Walmart to explain the logic behind its tax deductions on the $16 billion Flipkart deal, have the option to seek more clarifications from the US retailer once they study the reply.

Walmart has said that it will fulfil whatever is the regulatory requirement, according to an official aware of the development. The US retail behemoth reportedly added that it will get the tax implication of the deal examined.

The latest news is that Japanese automaker Nissan Motor has begun international arbitration against the country seeking dues of more than $770 million, for alleged violations of its Comprehensive Economic Partnership Agreement with Japan.

Bilateral ties between India and Japan have seen consistent improvement in the past decade. Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe built on this momentum through a \"Special Strategic and Global Partnership\" in 2014.

The document, uploaded on its website, indicates that the draft \"investment chapter\" of RCEP is closely linked to its intellectual property (IP) draft. KEI was also the first to release the leaked text of the IP draft a couple of days ago.

Indian Transfer pricing (TP), since its introduction has attracted a lot of attention for reasons ranging from some specific peculiarities in the Indian TP regulations to the vast scale of TP disputes over the years.